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Insurance On Debit Card

Insurance on Kotak Debit is provided by Zurich Kotak General Insurance company limited for the period of July 24, 2024 to July 23, 2025.

Your Kotak Debit Card is designed to give you a worry-free transaction experience, no matter what you use it for. With its use of a 6-digit PIN and the embedded chip for security, you can use your Card at ATMs and merchants with utmost peace of mind.

You will also receive instant SMS and email alerts with every transaction

Additionally, we offer you complimentary insurance, so you can use your Kotak Card for transactions without worrying about its misuse.

Personal Accident cover

Personal Accident cover provides you financial assistance of up to INR 15 lacs on meeting the eligibility criteria in case you suffer an accident, which leads to death.

Air Accident Insurance

Air accident cover of up to INR 5 crores to cover loss of life due to air accident, for domestic and International travel.

Lost Card Liability

Lost Card Liability cover of up to INR 6 lakhs to cover transactions at merchant outlets and online portals on lost / stolen cards.

Purchase Protection

Purchase Protection cover of up to INR 1.5 lacs to cover loss of goods purchased using Kotak Debit Card.

Lost Baggage Insurance

To cover for loss of baggage when travelling (where the travel ticket is purchased using Kotak Debit card).

Personal Accidental Death Cover

This feature covers our Debit Card customers for loss of life due to accident. Personal Accident cover provides you financial assistance in case you suffer an accident, which leads to death. This policy pays your beneficiary/ legal heir a fixed amount of cover as per the card held by you and on meeting the eligibility criteria.
The personal Accidental death cover of up to Rs. 15 lakhs is offered on Kotak Debit Cards. T&C apply.

The policy covers Accidental Death due to Rail or Road Accidents only.

Classic Debit Card :

Insurance Cover	Policy Term
Base Cover: 2 lakhs	Minimum 2 POS / ECOM transactions of Rs. 500 each in last 30 days

Gold / Platinum / Privy Platinum / Signature and Infinite Debit Card :

Insurance Cover	Policy Term
Base Cover: 5 lakhs	Minimum 2 POS / ECOM transactions of Rs. 500 each in last 30 days
Enhance Cover: 15 lakhs	Minimum 6 POS / ECOM transactions of Rs. 500 each in last 60 days

Click here to know more.

Purchase Protection

To cover loss of goods up to 60 days from the date of purchase as per the limits if the goods were purchased using Kotak Debit Card. Purchase Protection cover up to 1.5 lakh. T&C apply

Click here to know more.

Lost Baggage Insurance

To cover loss of baggage when travelling (where the travel ticket is purchased using Kotak Debit Card). Lost Baggage cover up to 1 lakh. T&C apply.

Click here for more detail.

Insurance Cover

Insurance Offered as per Card type:

Know more about different Debit Cards provided by Kotak Mahindra Bank.

Debit Card Type (all fig. in Rs lacs)	Lost Card Liability	Purchase Protection	Lost Baggage	Air Accident	Personal Accident Base Cover*	Personal Accident Enhance Cover**	Permanent Partial Disability Cover (New)	Permanent Total Disability Cover (New)	Education Benefit (New)
#PayShopMore	2.5	0.5	NA	NA	2	5	NA	NA	NA
Junior Debit Card	2.5	0.5	NA	NA	2	5	NA	NA	NA
Access India Debit Card	1.5	0.5	NA	NA	2	5	NA	NA	NA
Silk Platinum Debit Card	3.5	1	1	50	5	50	NA	NA	NA
Gold Debit Card	2.85	0.75	1	15	5	50	Upto 30	Upto 30	Upto 4
Platinum Debit Card	3.5	1	1	50	5	50	Upto 30	Upto 30	Upto 4
Jifi Debit Card	3	1	1	20	5	50	Upto 30	Upto 30	Upto 4
Privy League Platinum Debit Card	4	1	1	50	5	50	Upto 30	Upto 30	Upto 4
Privy League Signature Debit Card	4.75	1.5	1	100	5	50	Upto 30	Upto 30	Upto 4
Wealth Management Infinite Debit Card	5	1.5	1	500	5	50	Upto 30	Upto 30	Upto 4
Business Class Debit Card	2.5	1	1	20	NA	NA	NA	NA	Upto 4
Business Power Debit Card	3	1	1	50	NA	NA	NA	NA	Upto 4

Insurance Offered as per Card type

Debit Card Type	Lost Card Liability (in Rs. lakhs)	Purchase Protection Limit (in Rs. lakhs)	Lost Baggage (in Rs. lakhs)	Air Accident (in Rs. lakhs)
Junior Debit Card	2.5	0.5	Not Applicable	Not Applicable
Access India Debit Card	1.5	0.5	Not Applicable	Not Applicable
#PayShopMore	2.5	0.5	Not Applicable	Not Applicable
Silk Debit Card	3.5	1.0	1.0	Upto 50 Lacs
Gold Debit Card	2.85	0.75	1.0	15.0
Business Class Debit Card	2.5	1.0	1.0	20.0
Platinum Debit Card	3.5	1.0	1.0	50.0
Business Power Debit Card	3.0	1.0	1.0	50.0
Jifi Debit Card	3.0	1.0	1.0	20.0
Privy League Platinum Debit Card	4.0	1.0	1.0	50.0
Privy League Signature Debit Card	4.75	1.5	1.0	100.0
Wealth Management Infinite Debit Card	5.0	1.5	1.0	500.0

Terms & Conditions

Liability for Lost Card Liability will start from the Date of Dispatch of the Card as confirmed by the Bank, whereas for all other sections, it will start from Date of Activation of the Card (means first POS transaction/cash withdrawal by the cardholder)
Insurance provided under the policy shall not be valid for procuring a visa
Coverage on Lost Card Liability and Purchase Protection Sections shall be payable only on PIN based transactions (except for international transactions where PIN is not mandatory)
Claim Submission to Bank to be within a period of 60 days from date of blocking of card
Customer to provide Intimation of Claim within 30 days from date of loss/blocking of card
For skimming/phishing/counterfeit card/internet banking extensions - report to the Bank within 60 days from the statement/billing cycle date. However, this above reporting period will not be applicable if the Bank can establish with documentary evidence that the information of misuse was known to the customer and he/she did not take appropriate steps to prudently block or report the card misuse within 24 hours of such knowledge.
Further, the policy shall cover losses due to skimming/phishing/counterfeit/internet banking frauds extensions subject to a maximum period of 30 days from date of first fraud.
Fraudulent transactions done by person known to the Cardholder are specifically excluded.
The decision of the Bank in all matters is final and shall be binding on all persons.
All disputes arising out of or in connection with this feature shall be subject to the exclusive jurisdiction of the courts in Mumbai.
Maximum Trip duration for Emergency Medical expenses is 30 days.
For personal accident death cover on Classic Cards a minimum of 3 transactions (POS/e-Commerce) of INR 500 each in last 60 days is mandatory for cover enhancement.
For personal accident death cover on Gold / Platinum / Privy Platinum / Signature and Infinite Debit Card, a minimum of 3 transactions (POS/e-Commerce) of INR 500 each in last 60 days is mandatory for cover enhancement.
For personal accident death cover, enhancement plan is not applicable for ATM transactions. Only a minimum of 3 transactions (POS/e-Commerce) of INR 500 each in last 60 days is mandatory for both Classic and Platinum and above cards.
Natural Death, Suicide, Drowning in water are not covered under the policy of Personal Accident Death. The policy is only applicable for deaths due to accidents on rail/road.
For Permanent Partial/Total Disability, coverage will be provided as per the tables A and B mentioned below. The policy covers disability arising out of rail/ road accidents.
If any accidental injury (rail/ road) shall within 12 calendar months of it’s occurrence be the direct cause of death/partial/total disablement of the Insured person, then the policy is applicable
The policy does not hold true for more than one disablement with respect of the same period of initial disablement of the insured person.
For Education Benefit, the coverage is applicable for 1 dependent child up to 25 years of age and for ongoing education.
Air accident coverage, covers customers who have purchased the air tickets by using Kotak Debit Card. The policy is applicable for all the insured card variants except for Classic cards.
In the event of the death of the insured person due to accident (rail/ road), the policy is liable to pay in addition to the insured amount, the transportation of insured person’s dead body to the place of residence, a lump sum amount of 2% of capital Sum insured or INR25000 whichever is less.
All Claims intimated from 1/10/2014 will follow the NEFT route for payment.

Permanent Partial Disability (Table A) :

SL No.	Particulars	% of capital sum insured
1	Loss of Toes - all	20%
1.a	Great - both phalanges	5%
1.b	Great - One phalanx	2%
1.c	Other than great, of more than one toe lost each	1%
2	Loss of hearing - both ears	75%
3	Loss of hearing - one ear	30%
4	Loss of four fingers and thumb of one hand	40%
5	Loss of four fingers	35%
6	Loss of thumb - both phalanges	25%
6.a	One phalanx	10%
7	Loss of index finger - three phalanges or two phalanges or one phalanx	10%
8	Loss of middle finger - three phalanges or two phalanges or one phalanx	6%
9	Loss of ring finger - three phalanges or two phalanges or one phalanx	5%
10	Loss of little finger - three phalanges or two phalanges or one phalanx	4%
11	Loss of metacarpals - first and second, third, fourth and fifth (additional)	3%
12	Any other permanent partial disablement	percentage as assessed by the company's panel doctor

Permanent Total Disablement (Table B):

Loss of two limbs/eyes/one limb and one eye wherein 100% of the capital sum insured is payable
Loss of one limb or one eye wherein 50% of the capital sum insured is payable
Permanent Total Disablement other than above e.g. paralysis due to an accident, wherein 100% of the capital sum insured is payable

Know more about different Debit Cards provided by Kotak Mahindra Bank.

Required Document

Personal Accidental Death Cover

In order to claim the Personal Accident Death Cover, the claimant (nominee of the customer's account / legal heir) should submit the below mentioned documents within 1 month of Cardholder's death, at any nearest Kotak Bank branch.

Duly completed Claim Form in all the respect
Original Death Certificate
Complete Post Mortem Report
FIR / Panchnama / Inquest Panchnama/For accident cases Spot Panchnama along with photos of accident spot and vehicle involved. If the documents are in Regional Language, then translation of original documents authenticated &/or notarised copy also original in regional language should be there
Salary Slip for the month prior to the inception of the Policy – If Applicable
If Death is in the Hospital while taking the treatment, then the Hospitalisation papers etc. to support the claim.
If incidence is reported to local media, newspaper cuttings of the same.
Mandate form for making payment through NEFT supported by cancelled cheque copy
Bank Account Summary of the previous month/s
Card details along with copy of the card.
Airline Ticket, along with certification from airline if death is due to Air Accident – applicable only for Air accident Insurance Cover
Proof of Flight ticket bought by the card holder via their Kotak's Card in case of Death due to Air Accident – applicable only for Air accident Insurance Cover

Exclusions:
The following risk / perils have been explicitly excluded under the policy:

Injury caused by surgery
Nuclear energy risk
Offshore activities
Suicide
Under Influence of Alcohol and/or Drugs.

The branch would guide further on the process.

Lost Card Liability

Coverage on Lost Card Liability shall be payable only on PIN based transactions (except for international transactions where PIN is not mandatory). Write to us for details on ATM transactions covered under Lost Card Liability.

To make a claim, submit the following documents at your nearest Kotak Bank branch:
Police Acknowledgement of any kind/First Information Report
Letter to bank branch giving details of the issue

Purchase Protection

Coverage on Purchase Protection shall be payable only on PIN based transactions (except for international transactions where PIN is not mandatory).
To make a claim, submit the following documents at your nearest Kotak Bank branch:

Original invoice giving value of the item(s) stolen
Replacement/Repair cost details
Police Acknowledgement of any kind/First Information Report
Final Police Report

Lost Baggage Insurance

To make a claim, submit the following documents at your nearest Kotak Bank branch:

Copy of Debit Card statement for transaction of items in the lost baggage
Original FIR Report to be obtained from the relevant police authority in the event of loss or theft
For claims involving jewellery, submit original or certified copies of valuation certificates issued prior to the commencement of the Period of Insurance
Copy of the old passport of the customer, if available (In case of loss of passport)
Original embassy receipts OR Passport Office Receipts for the replacement of Passport (In case of loss of passport)
Emergency travel certificate (In case of loss of passport)
Copy of the new passport to make a claim, submit the following documents at your nearest Kotak Bank branch:
Copy of Debit Card statement for transaction of items in the lost baggage
Original FIR Report to be obtained from the relevant police authority in the event of loss or theft
For claims involving jewellery, submit original or certified copies of valuation certificates issued prior to the commencement of the Period of Insurance
Copy of the old passport of the customer, if available (In case of loss of passport)
Original embassy receipts OR Passport Office Receipts for the replacement of Passport (In case of loss of passport)
Emergency travel certificate (In case of loss of passport)
Copy of the new passport

Air Accident Insurance

Claim is payable under Air Accident only if the Kotak Debit Card has been used for at least one financial transaction at ATM/ merchant outlet/online portals, in the last 89 days before the date of mishap.

To make a claim, submit the following documents at your nearest Kotak Bank branch:

Copy of Debit card statement for purchase of airline ticket(s)
Original death summary from the hospital (Applicable if death has taken place in hospital)
Copy of the death certificate from treating doctor or the hospital authority (Applicable if death has taken place in hospital)
Copy of the first information report from police department / copy of the medico-legal certificate (Applicable if death has taken place in hospital)
Copy of post mortem examination report (Applicable if death has taken place in hospital)
Treating doctor's certificate giving details of injuries (How, when and where injury sustained) OR All relevant treatment papers (Applicable if death has taken place in hospital)
Copy of the legal heir certificate, if the claim is for the death of the principle insured